Economic Buzz: German Factory Orders Decline 0.4% On Month In June

4 Aug 2022 , 03:17 PM

Germany factory orders declined 0.4 percent on a monthly basis in June, after a revised 0.2 percent drop in May, data published by Destatis showed on Thursday. Excluding major orders, new orders grew 0.4 percent from a month ago. The overall decline was mostly due to the 4.3 percent fall in orders from the non-euro area countries, while orders from the euro area climbed 3.4 percent. As a result, foreign demand was down 1.4 percent. On the other hand, domestic orders gained 1.1 percent. The producers of capital goods registered a decline of 1.8 percent. Meanwhile, orders for intermediate goods gained 1.2 percent and that for consumer goods went up 1.7 percent. Year-on-year, the decline in factory orders deepened to 9.0 percent from 3.2 percent in the previous month. Powered by Commodity Insights